Due to the property’s exceptional tellurium grades, Klondike was considered one of First Solar’s top tellurium prospects worldwide. First Solar planned to use Klondike as a potential primary source of tellurium for manufacture of the company’s cadmium-telluride (CdTe) solar panels. When First Solar decided to cancel their tellurium mining initiative, the property was purchased in 2013 by the geological team leading the company’s property acquisitions.

First Solar performed geophysics, sampling, drill targeting, and permitting from 2009 to 2011, then abandoned their global Te exploration program before drilling the identified Klondike targets. First Tellurium acquired an option to purchase the property from First Solar’s former team, who are now managing the upcoming exploration program at Klondike.

Klondike is located 10 miles (16 km) from the small town of Saguache and is easily accessible via paved and gravel roads. Most exploration work can be performed year-round.